January 29, 2026 – Golomt Bank successfully participated in the 10th Mongolia-China Banking and Finance Roundtable held in Shanghai, at the invitation of the People’s Bank of China. The event brought together leading financial institutions from both countries to discuss cooperation opportunities and strengthen cross-border financial connectivity.
During the roundtable, Golomt Bank delivered a presentation highlighting the recent progress of Mongolia-China bilateral financial collaboration and showcased a suite of products and services specifically designed to support Chinese companies operating in or engaging with Mongolia. Key highlights from Golomt Bank’s presentation:
Strengthening regional financial integration through Direct CIPS participation
On September 1, 2025, Golomt Bank became a direct participant of CIPS (Cross-Border Interbank Payment System), the international RMB payment system, and successfully implemented the system. This achievement represents a significant advancement for Mongolia’s financial sector and marks an important step forward in strengthening bilateral trade and investment mechanisms between Mongolia and China. The integration of CIPS now enables real‑time RMB payment processing through a more streamlined and secure framework, resulting in faster settlement, enhanced reliability, and improved cost efficiency for cross‑border transactions. Through this milestone, Golomt Bank further reinforces its role as a leading facilitator of international financial flows and reaffirms its commitment to deepening global partnerships and delivering world‑class banking solutions to its clients.
New cooperation in the China Interbank Bond Market
Since 2024, Golomt Bank has expanded its international investment footprint by participating in the China Interbank Bond Market (CIBM) through the Agricultural Bank of China, thereby further diversifying and strengthening its global investment portfolio. These strategic initiatives were highly commended by both the Bank of Mongolia and the People’s Bank of China, and were prominently acknowledged during the roundtable discussions.
In addition, Ms. Hou Xiao, Director of International Financial Institutions at the Agricultural Bank of China – Golomt Bank’s custodian bank within the CIPS framework – emphasized the importance of these collaborations and reaffirmed the strong and mutually beneficial partnership between the two institutions. The Agricultural Bank of China began its correspondent banking relationship with Golomt Bank in 2003, marking the beginning of financial cooperation between China and Mongolia. For the past 23 years, we have maintained a stable and mutually beneficial partnership. Last year, Golomt Bank successfully implemented CIPS system, which is an important step in improving the trade and investment environment of both countries.”
Golomt Bank continues to work with more than 20 leading Chinese banks and financial institutions in various areas such as digital payments, cross-border RMB infrastructure, custodian banking services, correspondent relations, trade finance, and capital market cooperation, contributing real value to the financial relationship between Mongolia and China.
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